Which of the Following Is True

question 45

Multiple Choice

Which of the following is true?

• A)Efficiency refers to the size of the economic pie; equality refers to how the pie is divided.
• B)Government policies usually improve upon both equality and efficiency.
• C)As long as the economic pie continually gets larger, no one will have to go hungry.
• D)Efficiency and equality can both be achieved if the economic pie is cut into equal pieces.

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Definitions:

Basic Question

In economics, refers to fundamental queries about how to allocate scarce resources to satisfy human wants.

Economy

The system of production, consumption, and distribution of goods and services within a geographical region.

Goods Produced

Refers to the total set of goods and services created within an economy at a given period of time.

Lemonade Stands

A small, informal business, often run by children, that sells lemonade to the public, typically during summer.